BA to fill pensions deficit early

A MULTI billion-pound hole in a pension scheme at Aer Lingus sister British Airways will be filled four years earlier than previously thought. The UK flag carrier said it had been paying £450m (€521m) a year since 2015, more than expected, toward reducing the deficit.

It now predicts the £2.4bn deficit in its pensions budget will vanish by March 2023, compared with the past 2027 target.

The higher-than-expected amount came after the firm held enough cash to trigger an additional £150m payment each year. It came on top of the £300m minimum it had committed to reducing its deficit by every year.